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Elizabeth Holmes—the disgraced and incarcerated founder of the infamous blood-testing startup Theranos—is barred from participating in federal health programs for nine decades, according to an announcement from the health department Friday.
The exclusion means that Holmes is barred from receiving payments from federal health programs for services or products, which significantly restricts her ability to work in the health care sector. It also prevents her from participating in Medicare, Medicaid, and other federal health care programs. With a 90-year term, the exclusion is lifelong for Holmes, who is currently 39.
The exclusion was announced by Inspector General Christi Grimm of the Department of Health and Human Services’ Office of Inspector General.
Holmes is serving an 11-year, three-month sentence for defrauding investors of her blood-testing startup, Theranos, which she founded in 2003. At the time, Holmes claimed to have developed proprietary technology that could perform hundreds of medical tests using just a small drop of blood from a finger prick. The remarkable claim helped her drive the company’s valuation to a stunning $9 billion in 2014, and set up lucrative partnerships. But, in reality, the technology never worked. The company collapsed in 2018, and she was convicted of fraud in 2022.
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I hear she’s got a machine that can diagnose all illnesses from a single dose of blood, so she might get there
imagine this: It’s the year 2114 and 129-year-old Elizabeth Holmes, still sprightly & deviant & sociopathic, is starting up a new medical industry and defrauding investors all over again because none of her contemporaries remember her shenanigans from 90 years prior because they weren’t even born yet
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The only people impacted were the “defrauded investors.
I don’t know where you got that idea.
The Centers for Medicare and Medicaid Services has decided that Theranos’ Newark, California, facility poses “immediate jeopardy to patient safety.”
In December 2013, a lab inspector found that the lab didn’t meet the required standards for at least 10 different blood tests.
Despite the changes that Theranos implemented after the 2013 inspection, the company’s California lab failed even the simplest of tests the next year. The company obtained “unsatisfactory” scores — 70 percent and 40 percent — for two blood typing tests in early 2014,
In April 2015, Theranos was caught once again skipping over a fundamental safety procedure, at a lab in Scottsdale, Arizona. Theranos couldn’t produce data showing that its staff has tested the lab’s commercial instruments before using them on customer samples,
You’re moving the goal posts. You said:
The only people impacted were the “defrauded investors.
…people who didn’t have cancer took chemotherapy. That will give you cancer.
She gave people cancer and you’re saying it’s just money. Amazing.
She is an absolute psychopath and should be jailed for life.
I read that as in she is unable to work or research, in the medical field, not as a patient.
It also prevents her from participating in Medicare, Medicaid, and other federal health care programs.
…
Holmes is serving an 11-year, three-month sentence
So what happens if she gets sick in prison?
Participating as a provider, not as a patient
She will still get benefits, every inmate gets benefits even though the care you receive in prison is low quality it’s still cruel and unusual to not give prisoners access to at least minimal health care needs. A case like that wouldn’t even make it to the supreme court. She just can’t receive payments or work for a company that receives payments from those services.
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I honestly believe that this (what she did) happens all of the time. But she was too young, too female, to get away with it.
I suspect we won’t see any more consequences in the future for most people. I’d love to be proven wrong.
I’d bet it’s more she went the silicon valley route and banked on the tech avenue/public bragging to make money. The others fly under the radar.
Definitely.
But she was too young, too female, to get away with it.
The combination of these two usually makes it easier to get away with things
Hmmm
Too young, white, and female? You mean the least incarcerated demographic in the USA?
It’s surely not because she’s a fake voiced sociopath who got the hopes up of millions of patients and healthcare workers alike… falsely representing technology to defraud millions of investors…
Nope… Definitely because she’s a middle aged woman lol.
The only reason she even got funding was because she was the female steve jobs
